A spokesman for the 2012 bid said internal discussions were still going on, but that an announcement was expected within days.
Although on a smaller scale, the 2012 bid finance chief will look to emulate David Leather, who was FD and deputy chief executive of last year’s highly successful and profitable Manchester Commonwealth Games.
Whoever is named will be in charge of around £13m in bid finances, although this would be dwarfed by the actual cost of running the games in the capital city, if the bid were to succeed. In May, culture secretary Tessa Jowell estimating the total cost of hosting the games in London at a staggering £2.4bn.
The executive management team for the 2012 bid is finally taking shape with American import Cassani, the former chief executive of BA’s low cost airline Go, heading up the team.
Last month, founder of the Nectar and Air Miles reward schemes Keith Mills was appointed as chief executive.
London is up against New York, Paris, Madrid, Rio de Janiero, Moscow, Liepzig, Istanbul and Havana for the right to host the games. A further shortlist of cities will be announced in May next year, with the winning city named on 6 July 2005.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements